company focused on proven fields exploited by well-managed independent oil companies extracting
reserves at lower risk and lower cost than unproven prospects. We are focused on domestic and
international areas where major oil and gas producing companies have reduced their exploration efforts
in search of larger reserves.
Management is pleased to announce, announces today its oil production shows an additional increase
of 5% for this quarter, due to the additional wells re-activated during the third quarter of 2022. The
company plans to install gas lift systems to further enhance recovery, extend the life of depleting wells
and improve the economics of the company’s well development.
Our geological advisers have presented information supporting the development of resource
opportunities specifically analog targets aggressively developed by horizontal drilling activity in Beaver,
Canadian, and Creek counties in central Oklahoma, today the company had proved reserves of 9.1
million barrels of oil equivalent (“BOE”) (84% oil) with a PV10 value of $58.8 million based on SEC
pricing, according to our internal reserve report completed and finished on June 2022.
Corporate Update
Management is currently evaluating several mid-sized production and exploration opportunities in the
Bakken and Three Forks Formations in the Williston Basin of Montana and North Dakota regions on
which according to the USGS estimated 4.3 billion barrels of unconventional oil and 4.9 trillion cubic feet
of unconventional natural gas in the two formations.
Our board of directors has approved the conversion of all preferred shares into common shares
resulting in an increase of over one billion shares restricted and owned by insiders, this decision follows
to comply with the requirements of a debt bond financing of approximately $5 million to maximize
operations and new acquisitions.
The company’s recent activities contributed to the optimization and improvement of the company’s
overall value to create further revenue income, in our properties located in counties in Oklahoma. Our
plan for Q4 2022, focuses on our properties located in the Anadarko Basin, additional field services will
be needed to increase the daily oil and gas production to further revenue income.
Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. About Church & Crawford Inc. Headquartered in Houston, Texas, Church & Crawford Corporation is a public traded company (CCWF). Church & Crawford Inc is an independent oil and gas company. The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests. Once acquired, the company intends to develop each property to maximize the income from each property by refurbishing and improving the existing production. Forward-Looking Statements: can give no assurance that such expectations will prove to be correct. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Factors that could cause the company’s actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: The success of the company’s exploration and development efforts; the price of oil, gas, and other produced gasses and liquids; the worldwide economic situation; changes in interest rates or inflation; the ability of the company to transport gas, oil, and other products; the ability of the company to raise additional capital, as it may be affected by current conditions in the stock market and competition in the oil and gas industry for risk capital; the company’s capital costs, which may be affected by delays or cost overruns; cost of production; environmental and other regulations, as the same presently exist or may later be amended and the company’s ability to identify, finance and integrate any future acquisitions. You are urged to carefully review and consider the cautionary statements and other disclosures. Forward-looking statements speak only as of the date of the document in which they are contained, and Church & Crawford does not undertake any duty to update any forward-looking statements except as may be required by law. The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers’ preferences and trends. The words “estimate,” “possible,” and “seeking” and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. 2022 Church & Crawford Inc. The information herein is subject to change without notice. Church & Crawford Inc shall not be liable for technical or editorial errors or omissions contained herein.
Shareholder inquiries:info@Church-Crawford.com
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